Investing in the potential of the Internet of Things
August 07, 2018 / ANASIA D'MELLO
Whilst the Internet of Things (IoT) as we understand it has been around for about a decade, for quite a lot of that period it was hard to understand how much of the conversation surrounding it was simply hype. It seems, however, that in this case the hype is justified, says Charlie Ross, investment director at Livingbridge. According to Gartner, there were around 8.4 billion connected devices in existence in 2017; a number expected to reach more than 20 billion over the next two years. A simple concept, IoT is essentially a network of devices – from wearable fitness trackers to connected machines on a smart factory floor – each of which contains technology that enables it to send and receive information via the internet. Its true power, however, lies in the data these connected devices generate, providing constant feedback on how they are performing, where they are located, and how they are being used.